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If you've got a piggy bank with hundreds of old £1 coins in, you may need to know exactly what you can do with them after today's deadline.

When does the round £1 coin cease to be legal tender?

As reported by the Birmingham Mail, the £1 coin remains legal tender until midnight on Sunday October 15.

After then, businesses can stop accepting it and they will not be able to give it to you as change.

Does that mean I will not be able to spend my round pounds after this date?

Tesco are planning to continue allowing the public to spend the old £1 coins for the next few weeks (Image: Adrian Dennis)

This could depend on where you shop.

Some stores, such as Iceland, Tesco and Poundland, plan to continue accepting round pounds for a short period of days afterwards.

If you do not want to risk being caught out, though, bear in mind that shops are not obliged to accept your old round pound after October 15, so it would be wise to offload your old coins by banking, spending or giving them to charity before then.

What about banks?

Several major banks and building societies have said their own customers can continue to deposit the old round pounds with them after October 15 - so if you do find a few wedged down the sofa in the coming weeks, you can still bank them.

The Post Office is another place where you can take your old round pounds after this date.

People will still be able to deposit the old coins into any of their usual high street bank accounts through the Post Office.